All too often, insurance agency management fails due to poor execution: not putting the right people in the right place. Most agencies face a consistent cadre of problems: lack of good people, automation, soft pricing, companies, and poor producers. Every one of these problems can be fixed.
This article provides an overview of various E&O loss exposures that exist in commercial lines of insurance and reviews methods and procedures that an agency could consider to help reduce the possibility of a claim. Included is information about certificates of insurance, additional insureds, hold harmless agreements, subrogation waivers, protective safeguards warranties, leased property exposures,…
This article provides an overview of various E&O loss exposures that exist in commercial lines of insurance and reviews methods and procedures that an agency could consider to help reduce the possibility of a claim. Included is information about certificates of insurance, additional insureds, hold harmless agreements, subrogation waivers, protective safeguards warranties, leased property exposures,…
This article provides an overview of various E&O loss exposures that exist in commercial lines of insurance and reviews methods and procedures that an agency could consider to help reduce the possibility of a claim. Included is information about certificates of insurance, additional insureds, hold harmless agreements, subrogation waivers, protective safeguards warranties, leased property exposures,…
Is it an E&O exposure for a licensed agent/CSR to review and sign applications for an unlicensed CSR? If you have a CSR who is not licensed mailing out endorsements to an insured, can he/she sign his or her name on the endorsement’s cover sheet? Or, is it better to be signed by a licensed employee? These…
Experienced employees gravitate to those areas for which their talents are best suited. Forcing CSR’s to sell, forcing salespeople to adhere to detail oriented efforts, and forcing management responsibilities on stockholders who have never been inclined to manage are counterproductive efforts. In this article, I’ll explain why you should not force a round peg into…
When I first started in this business, my employer required not only a coat and tie, but also a HAT! My how times have changed. In many organizations now, “business casual” is the order of the day. However, what constitutes “business casual,” like beauty is in the eye of the beholder. As a result, without…
We were recently asked our opinion about whether personal lines CSRs could also handle small business accounts written on BOPs. While some CSRs can make the transition, it is fraught with perils. Find out what the VU experts think about the realistic expectations of such a change.
An agency receptionist transfers phone calls, takes messages, opens mail, directs clients to CSRs, and accepts direct bill payments from clients. She allegedly does not discuss coverage with clients. Does she need to be licensed?
In my state, a manicurist has to complete 600 hours of classroom and supervised work experience to get licensed. An insurance agent? Put in 40 hours and you could be licensed to bid on General Motors’ account in the morning and Microsoft’s in the afternoon.
